Foghorn Therapeutics (NASDAQ:FHTX - Get Free Report) had its price objective lowered by analysts at Jefferies Financial Group from $18.00 to $14.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's price target would suggest a potential upside of 154.08% from the stock's previous close.
A number of other brokerages have also issued reports on FHTX. Evercore ISI started coverage on Foghorn Therapeutics in a research report on Monday, August 19th. They set an "outperform" rating and a $20.00 target price on the stock. Morgan Stanley lifted their target price on shares of Foghorn Therapeutics from $6.00 to $9.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $15.20.
Get Our Latest Stock Report on Foghorn Therapeutics
Foghorn Therapeutics Trading Up 4.0 %
Foghorn Therapeutics stock traded up $0.21 during mid-day trading on Monday, hitting $5.51. The company had a trading volume of 723,380 shares, compared to its average volume of 139,712. The company has a market capitalization of $306.32 million, a price-to-earnings ratio of -2.63 and a beta of 3.10. The company's fifty day moving average is $7.73 and its 200-day moving average is $7.19. Foghorn Therapeutics has a 12-month low of $2.70 and a 12-month high of $10.25.
Insider Activity
In other Foghorn Therapeutics news, insider Carlos Costa sold 35,756 shares of Foghorn Therapeutics stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $10.04, for a total transaction of $358,990.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.07% of the company's stock.
Hedge Funds Weigh In On Foghorn Therapeutics
A number of hedge funds have recently modified their holdings of FHTX. Zacks Investment Management acquired a new stake in Foghorn Therapeutics in the 3rd quarter valued at approximately $96,000. SG Americas Securities LLC acquired a new stake in shares of Foghorn Therapeutics in the third quarter valued at $99,000. Renaissance Technologies LLC purchased a new stake in shares of Foghorn Therapeutics in the 2nd quarter valued at $62,000. XTX Topco Ltd purchased a new stake in shares of Foghorn Therapeutics in the 3rd quarter valued at $101,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Foghorn Therapeutics during the 2nd quarter worth about $64,000. 61.55% of the stock is currently owned by hedge funds and other institutional investors.
About Foghorn Therapeutics
(
Get Free Report)
Foghorn Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of medicines targeting genetically determined dependencies within the chromatin regulatory system in the United States. The company uses its proprietary Gene Traffic Control platform to identify, validate, and potentially drug targets within the system.
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